# Suppose You Just Bought An Annuity With 9 Annual Payments Of $15 300 At The Current Interest Rate Of 10 75 Percent

Question

# Suppose you just bought an annuity with 9 annual payments of $15,300 at the current interest rate of 10.75 percent

per year.

What is the value of the investment at the current interest rate of 10.75 percent? **(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)**

What happens to the value of your investment if interest rates suddenly drop to 5.75 percent? Finance